CALL TODAY - 0114 266 4216

Freedom Bay

Are you invested in Freedom Bay as part of your SIPP?

You may have been mis-sold and could claim compensation

The Freedom Bay resort in St. Lucia was an overseas investment scheme in a luxury Caribbean eco hotel development.

Investors were promised 6% returns during construction and 8% for the following three years.

However, that didn’t happen and many investors were exposed to unsuitable risks after being advised to invest.

Check if you have a compensation claim

1

Our initial assessment can tell you were mis-sold and if you have a case to claim compensation

2

It’s simply a chat with one of our highly trained experts who will happily answer any questions and inform you of all your options

3

It’s free and there’s absolutely no pressure to use our claims service if you have case

Arrange a claim check

What went wrong with Freedom Bay?

Freedom Bay was a high-risk, unregulated investment scheme in a luxury Caribbean eco hotel development in St Lucia.

There was also a Fractional Ownership option to this investment. This meant clients not only invested in the development, but had entitlements to one or more weeks in a luxury apartment or villa. Operating a little bit like timeshare in that they could also exchange these weeks for other resorts or let the hotel rent them out and earn income.

Things did not go to plan and despite being scheduled for completion in 2013, it remained unfinished. The Malgretoute Hotel Development Company who owns the resort went into receivership.

Unsuitable Investment Advice

All investments carry risk but it’s the responsibility of your financial adviser to make sure any investments or pension transfers match your risk profile.

Freedom Bay would not likely have been a suitable investment for the average investor, who would lack the knowledge, experience and capacity for loss that is involved with high-risk investments.

 

Freedom Bay Mis-sold through SIPPs

Freedom Bay was a high-risk, unregulated scheme which was mis-sold to many people through their Self-Invested Personal Pension  – SIPP.

This is despite the fact that this type of investment is considered unsuitable for the average investor.

Rowanmoor had Freedom Bay in some of its SIPPs. It is now in administration following SIPP client complaints.

Other SIPP pension providers who had this investment in their SIPPs were The Lifetime SIPP Co and Brooklands Trustees.

 

Want an expert opinion on SIPP mis-selling?

Try our free assessment check

If you were advised to invest in Freedom Bay you should check for mis-selling and claiming compensation.

Simply fill in the form below to arrange your SIPP mis-selling assessment.




    GDPR: I understand by completing my details on the above form my data will be protected and processed in line with Pension Claim Consulting Ltd's Privacy & Cookie Policy

    Important Information!

    You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

    It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.